Government Imposes 12% Safeguard Duty On Some Steel Imports To Prevent Chinese Dumping
The government has imposed a 12% temporary safeguard duty on certain steel imports to protect the domestic industry from cheap products being dumped from countries like China and Vietnam.
Following a DGTR probe, a safeguard duty at 12% has been imposed from April 21 for 200 days. The steel safeguard duties will apply to imports from developed economies as well as China and Vietnam, as per a government notification.
India's Directorate General of Trade Remedies had initiated an investigation into whether a safeguard duty needs to be imposed after domestic steelmakers complained of an increase in imports of certain steel flat products into the country.
The probe came after the Indian Steel Association filed a complaint with the DGTR alleging a "recent, sudden, sharp and significant increase in imports", which has caused "injury to the domestic industry."
Indian Steel Association members include leading domestic steel companies such as ArcelorMittal Nippon Steel India, JSW Steel, Bhushan Power & Steel, Jindal Steel and Power and Steel Authority of India Ltd.
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